How To Change Your Money Mindset
By Rachael Taylor
When I first started out, getting those first few clients and building on that momentum was the holy grail of being a business owner, but it was also the biggest mountain to climb. I would have great months with lots of engagement, interest and connection and then dip right into slow months, where the struggle began all over again.
What was causing that? Not my prospects, but me - more specifically my money mindset (how I felt about money). Every time my business would start to take off and move me into my next level, “something” would come up for me.
Things like sickness, family drama, financial crisis, bad weather, etc. would suddenly arrive in my life and throw me off my game.
Why? It’s simple really, I had a struggle money mindset. My family’s generational story is “You have to work really hard to make money, and no matter what you do there will never be enough – you’ll always struggle.”
It took a lot of work to understand and find that story. I had to dig into my past and go through mindset exercises to find it in order to release it, and I find that it’s a block around success that likes to try and be an influencer again every so often.
You see, your mindset around money, success and the potential for your business directly affects how much you allow yourself to have and how far you’ll allow your business to go.
Think about the greatest athletes of all time, the ones that break records and set the standard for the new “best” to achieve. In 1954, Roger Bannister was the first person to run the 4-minute mile in under 4 minutes. He credits his accomplishment in part to visualizing the achievement to create a sense of certainty in his mind and body.
Interestingly enough, only 46 days later John Landy not only broke the 4-minute mile, but beat Roger Bannister’s time. The 4-minute-barrier has now been broken by over 1,400 athletes.
The same is true for creating a positive money mindset and breaking financial barriers that you’ve been struggling with your entire life. Part of why it’s so hard to make that change is because your mind is used to things going up and down, being difficult, struggling and feeling stressed.
The mind and body like to be comfortable above everything else, and being comfortable means minimal change as possible.
However, we are not destined to stay the same. As humans, we crave to be better than those before us, we seek to have more, be more and do more.
Mindset work builds the bridge and fills the gap between your existing and limiting beliefs to reaching your financial and life goals.
I began to see the connection of when sabotage arrived a few months after it initially started. It was almost like I had an aerial view of my body and actions, watching myself get distracted, be sucked into petty drama, focused on the wrong things and stressed beyond all imagination about it all.
Three things snapped me out of it and allowed me to get to my next level of mindset mastery:
Staying committed to saying and repeating my mindset mantras and affirmations, even on the days when I didn’t feel like or it didn’t feel like it was working.
Giving myself (and my mind) space to work out the solution, trusting that it would, and decluttering my thoughts through journaling, talking with loved ones and connecting to God.
Doing my very best every day and even if my “best” that day wasn’t my usual “best”, to not beat myself up about it but instead stay grateful that I have another chance to be better tomorrow.
If you’re new to the idea of mindset work and how it affects your business, this may seem a bit “out there” for you but I encourage you to stay curious about how it all works.
Just as Roger Bannister and the 1,400+ athletes after him, visualizing your success is a huge part of reaching it. You want your mind and body to be on the same page as your goals.
Mindset work trains your mind to rewire and recode what it currently believes about money and success, so you can move beyond your current limits and set a new standard for your family and generations to come.
Start by working on creating a positive money mindset – a mind that has a good relationship with money and welcomes it with open arms.
You don’t have to write down your answers, but it does help to visually see your responses on a page in front of you.
Grab anything you have lying around, paper, sticky note, napkin, etc. and jot out a few key phrases or sentences that reflect your responses.
Get started by answering these three simple questions:
When you think about finding and converting clients in your business, what comes up for you? What’s your first thought? Second thought?
When you think about making more money than you did last month and paying off debt, what’s the first thing that comes to your mind? What do you believe is possible in your finances?
When you think about promoting and marketing your business, how does your body react to that? Is there a tightening of your throat, tension in your stomach? What’s the reaction you’re feeling when telling someone about your business and asking them to invest in what you offer?
Knowing what’s going on in our mind is the first step to actively changing it. You’ve probably heard before in the personal development world that “awareness is the first step” – mindset work is no exception.
I encourage you to pause and be quiet with your answers for a moment, so you can see where you might be sabotaging yourself and your business right now.
Your gut reactions never lie, and knowing what your mind is currently visualizing will help you understand why you’re stuck in the places you are right now.
For me, my sabotage would kick in right when making money was becoming easy, enjoyable and consistent. These three things directly contradicted that story I grew up with and didn’t line up with what my mind was visualizing.
Your money mindset is connected to money stories that you grew up with, and by finding them you can train your mind to shift its beliefs and stop sabotaging your progress or your finances. Visualize what you want instead and translate them into simple sentences that reinforce your new belief.
Over the next 30 days, repeat those phrases out loud every day to transform your money mindset into something that helps your business, not sabotages it.
Remember, being an entrepreneur is a big adventure with limitless possibilities and potential but it requires you to grow, be bold and pull on courage to stand up to what’s in your way. Growing to a new level may not be comfortable, but it’s always worth it.
You have this dream for a reason and it’s the perfect time for you to chase it! Enjoy the journey and trust the process.
From one entrepreneur to another…